RaboDirect term deposit reviews

RaboDirect
RaboDirect's overall rating for term deposits

(as rated by the Mozo community)

6.9 / 10

based on 13 reviews

Price

Features

Customer service

Convenience

Trust

Full review

Featured term deposit from RaboDirect

Recent RaboDirect term deposit reviews

RaboDirect

RaboDirect term deposit review

Overall rating   9 / 10

Secure, online, great rates - what's not to love?

This product had the best interest rates that were available at time of term start. Although there are no physical branch locations in my local area, I have had no need for one due to the highly efficient online and phone services! This is a...

Full review

This product had the best interest rates that were available at time of term start. Although there are no physical branch locations in my local area, I have had no need for one due to the highly efficient online and phone services! This is a highly secure banking organisation that I would recommend to anyone.

    Price   10 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   10 / 10

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Talia (NSW), reviewed 10 months ago

RaboDirect

RaboDirect term deposit review

Overall rating   9 / 10

Great interest rates and triple star bank.

Likes: interest rates are really good. One of the best in the market. Also when interest increases they will pass it on. Dislikes: only on-line. Also can only use with 1 link account.

Full review

Likes: interest rates are really good. One of the best in the market. Also when interest increases they will pass it on. Dislikes: only on-line. Also can only use with 1 link account.

    Price   9 / 10

    Features   9 / 10

    Customer service   7 / 10

    Convenience   6 / 10

    Trust   10 / 10

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Pai (NSW), reviewed 12 months ago

RaboDirect

RaboDirect term deposit review

Overall rating   9 / 10

Competitive rates and fantastic customer service

Excellent banking features online - quick and easy to use - very secure - customer service is outstanding - they will always try and accommodate our needs.

Full review

Excellent banking features online - quick and easy to use - very secure - customer service is outstanding - they will always try and accommodate our needs.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Marina (SA), reviewed over 1 year ago

RaboDirect

RaboDirect term deposit review

Overall rating   0 / 10

Still owe me $4500. Cannot get it back

Still owe me $4500. Cannot get it back.

Full review

Still owe me $4500. Cannot get it back.

    Price   5 / 10

    Features   5 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Michael (VIC), reviewed over 1 year ago

RaboDirect

RaboDirect term deposit review

Overall rating   5 / 10

Terrible customer service

Consistently, both on transfers and early break of term deposit.

Full review

Consistently, both on transfers and early break of term deposit.

    Price   2 / 10

    Features   7 / 10

    Customer service   3 / 10

    Convenience   3 / 10

    Trust   4 / 10

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Debbie (NSW), reviewed over 1 year ago

RaboDirect

RaboDirect term deposit review

Overall rating   8 / 10

It's a good online bank.

I don't really have too many issues with this bank. It's just convenient because you can do transactions online anytime. And it's also not convenient because it being online you can't get your money right there and then if you need it ASAP. ...

Full review

I don't really have too many issues with this bank. It's just convenient because you can do transactions online anytime. And it's also not convenient because it being online you can't get your money right there and then if you need it ASAP. They are also very informative when it comes any changes to their rates and anything else that happens to your account or with the bank.

    Price   8 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   8 / 10

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Filamor (NSW), reviewed over 1 year ago

RaboDirect

RaboDirect term deposit review

Overall rating   10 / 10

Competitive rates & excellent customer relations.

No cons on this rural bank - all pros with a high level of understanding on real rural situations.

Full review

No cons on this rural bank - all pros with a high level of understanding on real rural situations.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Sophie (QLD), reviewed about 2 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   8 / 10

No tricky "honeymoon" rates

I could not find any better interest rates for a SMSF. Easy to switch and change.

Full review

I could not find any better interest rates for a SMSF. Easy to switch and change.

    Price   7 / 10

    Features   7 / 10

    Customer service   6 / 10

    Convenience   6 / 10

    Trust   8 / 10

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Beat (SA), reviewed about 2 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   2 / 10

Go elsewhere!

Applied for ING and Rabo term deposits at the same time and still trying to activate and link the Rabo one 3 weeks later. Just a nightmare!! ING was done with no fuss at all!! I need to call the bank of the account I am trying to link yet again. I...

Full review

Applied for ING and Rabo term deposits at the same time and still trying to activate and link the Rabo one 3 weeks later. Just a nightmare!! ING was done with no fuss at all!! I need to call the bank of the account I am trying to link yet again. I would have walked away 2 weeks ago but I have now invested so much time into it!!!

    Price   8 / 10

    Features   8 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Frustrated (QLD), reviewed over 2 years ago

RaboDirect

RaboDirect Term Deposit term deposit review

Overall rating   7 / 10

excellent

You have to be computer literate.

Full review

You have to be computer literate.

    Price   8 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Bernard (QLD), reviewed almost 3 years ago

RaboDirect

RaboDirect Term Deposit term deposit review

Overall rating   9 / 10

Best banking secret

I did my research into banks, with my criteria being a competitive interest, easy access to my money and most of all a bank that was safe and reliable in times of economic uncertainty. As Rabobank mainly deals with agricultural business loans,...

Full review

I did my research into banks, with my criteria being a competitive interest, easy access to my money and most of all a bank that was safe and reliable in times of economic uncertainty. As Rabobank mainly deals with agricultural business loans, it seems a very safe, secure option for term deposits. I found Rabobank met my criteria. Although the only con was that their interest rate on offer at the time wasn't the highest around, but was still fairly competitive, however I overlooked that for the banks security. Also I didn't want to tie up my investment for any length on time, and wanted it available at short notice. Rabobank offers this option too, and make it very simple. I was also impressed by the banks security consciousness, giving a free token code for added online security for accounts, as I have had to pay extra for these from other banks. I was impressed with the friendliness and level of personal service given and the bonus of very minimal waiting time, not surprising as it's not one of the major mainstream banks. Would definitely recommend it as one of the best banks around for anyone looking at Term Deposit options.

    Price   5 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Philippa (QLD), reviewed about 3 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   9 / 10

Good interest rates

I have several term deposits with RaboDirect and have always been satisfied with them. I will alwalys go where the interest rate is best, providing it is a safe provider.

Full review

I have several term deposits with RaboDirect and have always been satisfied with them. I will alwalys go where the interest rate is best, providing it is a safe provider.

    Price   7 / 10

    Features   -1 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   10 / 10

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Leonie (VIC), reviewed over 3 years ago

RaboDirect

RaboDirect Term Deposit term deposit review

Overall rating   8 / 10

Very competitive

Rabo Direct is excellent.

Full review

Rabo Direct is excellent.

    Price   8 / 10

    Features   6 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   10 / 10

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Mozo reviewer (QLD), reviewed over 3 years ago

RaboDirect

RaboDirect Term Deposit term deposit review

Overall rating   1 / 10

Disgraceful customer service

Some of the Rabo Direct rates are OK - but their service and ease of use is absolutely appalling. Many other financial institutions will look after your needs better than Rabo.

Full review

Some of the Rabo Direct rates are OK - but their service and ease of use is absolutely appalling. Many other financial institutions will look after your needs better than Rabo.

    Price   2 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   1 / 10

    Trust   0 / 10

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Bruce (NSW), reviewed over 3 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   10 / 10

Good rates and keeps you informed of interest rate

Totally online account and the interest is much better than elsewhere. You are in total control of your money 24/7.

Full review

Totally online account and the interest is much better than elsewhere. You are in total control of your money 24/7.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Maree (NSW), reviewed over 3 years ago

RaboDirect

RaboDirect Term Deposit term deposit review

Overall rating   10 / 10

Excellent rates and very professional

Excellent rates. Very secure. No fuss. Excellent customer service. Most transparent bank that I have ever dealt with.

Full review

Excellent rates. Very secure. No fuss. Excellent customer service. Most transparent bank that I have ever dealt with.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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David (QLD), reviewed almost 4 years ago

RaboDirect

RaboDirect Term Deposit term deposit review

Overall rating   8 / 10

The online banking is fast and efficient.

No fuss banking. So easy!

Full review

No fuss banking. So easy!

    Price   6 / 10

    Features   -1 / 10

    Customer service   7 / 10

    Convenience   -1 / 10

    Trust   8 / 10

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Helen (QLD), reviewed about 4 years ago

RaboDirect

RaboDirect Term Deposit term deposit review

Overall rating   10 / 10

Great rates always the best

Always great rates, better than any other, exceptional service on line and phone.

Full review

Always great rates, better than any other, exceptional service on line and phone.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Lyn (NSW), reviewed over 4 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   0 / 10

Good rates on Term Deposit but dreadful customer s

I have been a customer with RaboDirect a few years back when their savings rates were still competitive. Recently, I have been thinking of moving money into a term deposit and found RaboDirect to have the best rates over 5 years. I thought, well...

Full review

I have been a customer with RaboDirect a few years back when their savings rates were still competitive. Recently, I have been thinking of moving money into a term deposit and found RaboDirect to have the best rates over 5 years. I thought, well that's great and as I still had my login details and the little calculator for the pin numbers I thought this would be easy to do. Done everything I needed to change my linked account and no answer... I also mentioned that I wanted to move a LARGE amount of money. Once I called a few days later they came up with some nonsense story and I had to resend an email confirming the new account again (which was exactly the same as in the first email). And again nothing happened. After writing a complaint a few days later and moving all remaining money out (some interest payment remained from a few years back), guess what? They were quick in changing the linked account and sending me a standard email response that they changed my linked account. No response to my actual complaint. That would have been fine had this happened before I had to call them and send a complaint. But now it's too late. Leaves me wondering what they would do to my money if they are not even able to respond to emails. It is quite surprising that a bank can still survive with such bad customer service, oh actually non-existant customer service. Apparently there are still banks out there that do not need to compete for funds and can afford to lose out on a considerable amount of money.

    Price   10 / 10

    Features   10 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Thomas (ACT), reviewed almost 5 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   8 / 10

When I first had a term deposit they'd let me know when the term was coming up for renewal and give me some good options (higher than quoted). Then they just stopped doing this and dumped the money into general savings with no notification.

Full review

When I first had a term deposit they'd let me know when the term was coming up for renewal and give me some good options (higher than quoted). Then they just stopped doing this and dumped the money into general savings with no notification.

    Price   9 / 10

    Features   7 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   7 / 10

Less

Fiona (VIC), reviewed over 5 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   8 / 10

I like their security and their rates- I would like some phone contact if I needed it.

Full review

I like their security and their rates- I would like some phone contact if I needed it.

    Price   8 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Gwen (NSW), reviewed almost 7 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   10 / 10

RaboPlus term deposits are A OK [easy to use].

Full review

RaboPlus term deposits are A OK [easy to use].

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

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David (NSW), reviewed about 7 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   10 / 10

RaboPlus's term deposit is easily managed online, good interest rate.

Full review

RaboPlus's term deposit is easily managed online, good interest rate.

    Price   10 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Maryanne (NSW), reviewed about 7 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   10 / 10

I love the security of my term deposit account at RaboPlus. I think the digipass is something all banks should adopt to give their customers more peace of mind. Not just save it for business customers like some other banks do.

Full review

I love the security of my term deposit account at RaboPlus. I think the digipass is something all banks should adopt to give their customers more peace of mind. Not just save it for business customers like some other banks do.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Natalie (NSW), reviewed about 7 years ago

RaboDirect

RaboDirect term deposit review

Overall rating   9 / 10

Always competitive term deposit rates, simplicity of transactions and no paperwork when you have a RaboPlus account.

Full review

Always competitive term deposit rates, simplicity of transactions and no paperwork when you have a RaboPlus account.

    Price   9 / 10

    Features   9 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Bob (QLD), reviewed about 7 years ago

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Term deposit comparisons on Mozo Rates updated daily

  • ING DIRECT Term Deposit

    ING DIRECT Term Deposit

    • No ING DIRECT fees
    • Deposit from $10K to $5 million
    • Loyalty Bonus Rate on rollover

    interest rate*

    3.00% p.a.
    1 year

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    More info

    • No ING DIRECT fees
    • Deposit from $10K to $5 million
    • Loyalty Bonus Rate on rollover
    • Minimum deposit: $10,000
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
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  • Citibank Term Deposit

    Citibank Term Deposit

    • Minimum investment $75,000, 31 day notice period applies
    • No establishment or account keeping fees
    • Feel secure in your investment, with guaranteed returns at maturity.

    interest rate*

    2.95% p.a.
    6 months

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    • Minimum investment $75,000, 31 day notice period applies
    • No establishment or account keeping fees
    • Feel secure in your investment, with guaranteed returns at maturity.
    • Minimum deposit: $75,000
    • Maximum deposit: $2,000,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    9.0

    Based on 3 Citibank term deposit reviews

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  • Bank Australia Term Deposit

    Bank Australia Term Deposit

    • High interest rate
    • Short investment term of 3 months for investments over $5K
    • Interest paid at maturity

    interest rate*

    2.85% p.a.
    2 years

    Go to site

    More info

    • High interest rate
    • Short investment term of 3 months for investments over $5K
    • Interest paid at maturity
    • Minimum deposit: $5,000
    • Maximum deposit: $500,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
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    6.3

    Based on 3 Bank Australia term deposit reviews

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  • Bankwest Online Term Deposit

    Bankwest Online Term Deposit

    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process

    interest rate*

    2.70% p.a.
    6 months

    Go to site

    More info

    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process
    • Minimum deposit: $1,000
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

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